CenterBook Partners LP Purchases New Shares in South Bow Co. (NYSE:SOBO)

CenterBook Partners LP purchased a new position in shares of South Bow Co. (NYSE:SOBO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 433,519 shares of the company's stock, valued at approximately $10,218,000. CenterBook Partners LP owned 0.21% of South Bow at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SOBO. Roxbury Financial LLC acquired a new stake in shares of South Bow during the fourth quarter worth approximately $29,000. Wiser Advisor Group LLC acquired a new position in South Bow during the 4th quarter worth $27,000. Assetmark Inc. bought a new stake in shares of South Bow in the 4th quarter worth about $33,000. Sit Investment Associates Inc. acquired a new stake in shares of South Bow in the 4th quarter valued at about $34,000. Finally, Rhumbline Advisers bought a new position in shares of South Bow during the fourth quarter worth about $34,000.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Royal Bank of Canada reiterated an "outperform" rating on shares of South Bow in a research note on Friday, March 7th. CIBC downgraded shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price objective for the company. in a research report on Friday, March 7th. Wells Fargo & Company cut shares of South Bow from a "hold" rating to a "strong sell" rating in a report on Wednesday, December 18th. National Bankshares increased their price target on South Bow from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. began coverage on South Bow in a research report on Friday, March 28th. They set a "neutral" rating and a $28.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, South Bow presently has a consensus rating of "Hold" and a consensus price target of $26.25.

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South Bow Stock Up 2.6 %

Shares of NYSE:SOBO traded up $0.60 on Monday, hitting $23.90. The company's stock had a trading volume of 291,954 shares, compared to its average volume of 937,128. South Bow Co. has a 12 month low of $21.16 and a 12 month high of $27.60. The company's 50-day moving average price is $25.23. The firm has a market capitalization of $4.98 billion and a P/E ratio of 12.92.

South Bow (NYSE:SOBO - Get Free Report) last announced its earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.12. The company had revenue of $488.00 million during the quarter, compared to the consensus estimate of $524.87 million. On average, equities research analysts expect that South Bow Co. will post 1.74 earnings per share for the current year.

South Bow Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 8.37%. South Bow's dividend payout ratio (DPR) is 108.11%.

About South Bow

South Bow Corp is a strategic liquids pipeline company. It is a new liquids-focused midstream infrastructure company. South Bow Corp is based in Canada.